Tuesday’s nearly 400-point decline in the Dow Industrials was a long overdue breath of fresh air. We shouldn’t assume it is the death knell for the nine-year-old bull market, however, since money managers with their economic lives at stake need only buy a handful of stocks in concert to turn things around. Even so, we’ll be paying particular attention to the shares of home builders (see TOL tout below), since they are less prone to be driven by bulls**t and hubris than such Wall Street faves as TSLA, NFLX, GOOG, MSFT, FB and AAPL. Meanwhile, the Dow Industrials have fallen 589 points, or 2.2%, since peaking on Friday at record levels. They would need to fall a further 432 points, touching 25,256, to announce that something might be seriously wrong.
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Tuesday, March 5, 2019
The consistent accuracy of Rick Ackerman’s forecasts is well known in the trading world, where his Hidden Pivot Method has achieved cult status. Rick’s proprietary trading/forecasting system is easy to learn, probably because he majored in English, not rocket science. Just one simple but powerful trick -- managing the risk of an ongoing trade with stop-losses based on ‘impulse legs’ – can be grasped in three minutes and put to profitable use immediately. Quite a few of his students will tell you that using ‘impulsive stops’ has paid for the course many times over.
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